Shengyi Electronics Plans to Invest 2.257 Billion Yuan to Expand High-End HDI Capacity

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Shengyi Electronics announced on the evening of August 28 that it plans to have its wholly owned subsidiary Ji'an Shengyi Electronics invest in the construction of a high-speed interconnect circuit board manufacturing project called Core Computing Intelligent Connectivity. The total investment is approximately 2.257 billion yuan, of which new investment is about 2.158 billion yuan. The products are positioned as HDI printed circuit boards for AI servers, automotive electronics, and other fields, with a designed capacity of 445,900 square meters per year. In the first half of the year, the company's revenue was 5.784 billion yuan, up 53.46 percent year on year, and net profit attributable to the parent company was 1.111 billion yuan, up 109.36 percent year on year. Gross margin rose to 34.31 percent, a new high since listing. As of the close on August 28, Shengyi Electronics traded at 131.2 yuan per share, with a total market value of about 109.9 billion yuan, and had risen nearly 40 percent during the year. The company noted that project funding will come from its own and self-raised funds, while cash and cash equivalents at the end of the period were only 407 million yuan, and the asset-liability ratio rose to 53.76 percent, creating funding pressure. In the industry, according to CPCA statistics, in the first half of 2026 there were 76 new investment projects in China's PCB industry, with a total investment of about 169.1 billion yuan. Leading manufacturers such as Victory Giant Technology, Avary Holding, and Wus Printed Circuit have all expanded capacity significantly, but the new capacity is expected to be released mainly from the second half of 2026 to 2028, posing a risk of oversupply.

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Shengyi Electronics plans a 2.257 billion yuan investment to expand high-end HDI capacity for AI servers and automotive electronics.

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